The wheat market fell lower across the three markets on Monday. Chicago SRW futures were 11 to 13 cents lower on Monday. Kansas City HRW futures were under pressure on Monday with contracts 8 to 9 cents in the red. Minneapolis spring wheat futures was the firmest of the three exchanges, steady to 2 cents lower.

Weekly Export Inspections data tallied wheat shipments at 310,326 MT (11.4 mbu) in the week that ended on May 1. That was down 42.2 % from the week prior and 8.48% below the same week last year. Mexico was the largest destination of 117,775 MT, with 105,015 MT headed to the Philippines. Marketing year shipments are now 19.772 MMT (726.5 mbu), an increase of 14.41% from the same week last year.

The weekly Crop Progress update showed the spring wheat at 44% planted by Sunday, which is ahead of the 34% average pace. Emergence was tallied at 13%, 4 percentage points ahead of normal. Winter wheat conditions were tallied at 51% good/excellent, which was up 2% from last year. The Brugler500 index was steady amongst the ratings shift, at 334.

Taiwan mills purchased a total of 68,650 MT of wheat from the US overnight. IKAR estimates the Russian wheat crop at 83.8 MMT, an increase of 1.3 MMT from their previous estimate.

May 25 CBOT Wheat  closed at $5.14 1/4, down 12 1/4 cents,

Jul 25 CBOT Wheat  closed at $5.31 1/4, down 11 3/4 cents,

May 25 KCBT Wheat  closed at $5.20, down 8 1/2 cents,

Jul 25 KCBT Wheat  closed at $5.32 3/4, down 8 1/2 cents,

May 25 MGEX Wheat  closed at $6.16 1/2, unch,

Jul 25 MGEX Wheat  closed at $6.09 1/2, down 1 1/2 cents,